BAKU, Azerbaijan, December 17. Iran's crude oil exports are continuing in a normal trend, Deputy Oil Minister and Head of the National Iranian Oil Company (NIOC) Hamid Bovard told reporters, Trend reports.
Bovard noted that there have been reports circulating on social media suggesting a decline in Iran's crude oil exports, but these claims do not reflect the actual situation. Iran’s crude oil exports are continuing as before, he emphasized.
To note, Iran’s crude oil exports have averaged about 1.5 million barrels per day in 2024, based on various statistical data. However, Iran has not shared specific figures regarding its crude oil exports, citing the sanctions imposed on the country.
Furthermore, current technology and equipment can extract approximately 340 billion barrels from Iran's estimated 1.2 trillion barrels of total hydrocarbon reserves. However, the country is only utilizing about 30 percent of these reserves, leaving 70 percent untapped underground.